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Entrepreneurial Development Programme | Objectives, Phases

Entrepreneurial Development Programme (EDP)
Contents :
  • Meaning and Definition of EDP.
  • Objectives of  EDPs.
  • Phases of EDPs.
  • Importance of EDPs.


What is EDP ?

Introduction :

Entrepreneurial Development Programme (EDP) refers to a programme which is formulated to assist the individuals in reinforcing their entrepreneurial motives, and attaining competencies and skills which is essential for performing an entrepreneurial role successfully.

Meaning and Definition of Entrepreneurial Development Programme (EDP) :


According to N. P. Singh :
"Entrepreneurship Development Programme is designed to help an individual in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role effectively. is necessary to promote this understanding of motives and their impact on entrepreneurial values and behavior for this purpose”.

EDP can also be defined as a pre-defined process that recognizes, inculcates, designs and refines the skills and proficiencies of an individual to establish his own enterprise. In recent times, EDP has become a professional task which extensively encourages the development of funded and private businesses. The programme is meant to grow entrepreneurial aptitudes among people.

Objectives of Entrepreneurial Development Programme (EDP) :


Following are the main objectives of EDPs :

  1. To make people learn compliance with law.
  2. To develop and fortify entrepreneurial quality, i.e., motivation or need for achievement.
  3. To develop small and medium scale enterprises in order to generate employment and widen the scope of industrial ownership.
  4. To industrialize rural and backward sections of the society.
  5. To understand the merits and demerits of becoming an entrepreneur.
  6. To investigate the environmental set-up relating to small industries and small businesses.
  7. To design project for manufacturing a product.
  8. To increase the supply of entrepreneurs for quick industrial development.
  9. To prepare individuals to accept the uncertainty involved in running a business.
  10. To develop managerial skills among small entrepreneurs for improving the performance of small-scale industries.
  11. To offer profitable employment opportunities to educated young men and women.
  12. To expand the sources of entrepreneurship.

Phases of Entrepreneurial Development Programme (EDP) :


All the EDPs mainly consist of three phases, which are illustrated as below:

1) Pre-Training Phase : 
This step can be considered as the introductory phase in which the entrepreneurship development programmes are launched. A wide spectrum of activities are performed in this phase arc described below :

i) Identification of suitable location where the operations can be initiated like a district.

ii) Selection of an individual as a course coordinator or project leader to coordinate the EDP activities.

iii) Organisation of basic infrastructural facilities related to the programme.

iv) Conducting the environmental scanning or industrial survey in order to look for better business opportunities.

v) Developing various plans associated with the programme, like :
a) Promotional activities by using electronic or print media, posters, leaflets, etc.
b) Contacting business experts, different agencies, NGOs that can become a part of the programme, directly or indirectly.
c) Printing the application forms and availing them in different locations with the instructions.
d) Establishing selection committee for screening of candidates.
e) Preparing budget and getting it approved from the management and arranging other activities which are related to the programme.
f) Arranging and deciding the need-based elements in the syllabus of training programme and to contact guest faculties for the training session.

vi) Looking for the assistance of various agencies such as DICs, banks, SISI, NSIC, DM and so on.

vii) Conducting industrial motivational campaigns to increase the number of applications.

2) Training Phase : 
The main function of any EDP is to impart training to future entrepreneurs and guiding them for establishing the enterprise. The normal duration of the entrepreneurship development programme is 4-6 weeks and it is usually a full time course. The objectives, training inputs and the centre of focus are explained in the programme design.
Commonly, it is considered that the trainees do not have enough information about the change because of which new programme is prepared. Each trainee should appraise himself at the termination of the training programme to have a clear view about his/her future endeavours.

Training Phase - Programme Design

Objectives

Focus

Inputs

Promoting and sustaining the skills of entrepreneurship and building up the confidence.

Entrepreneur.

 

Behavioral inputs.

 

Helping in establishing the new enterprise through decision-making.

Enterprise establishment Creating enterprise.

 

Business opportunity guidance, information and project planning inputs, technical inputs. Guiding for enabling business opportunities. information and project planning and technical opinions.

Successful and profitable operation of enterprise. Industrial exposure Performing profitable and successful operations, exposure various industrial knowledge.

Enterprise management, first-hand knowledge of factory layout, business sites, etc. Information related to factory layout, plant location, organisation management and so on.

Management inputs, plant visit/in-plant training Management suggestions industrial visit or training.

 

 


3) Post-Training Phase 
This phase is also referred as the phase of follow-up assistance. In this phase, the candidates who have completed their programme successfully are provided post-training assistance. This phase is very important as after the completion of training programme, most of the entrepreneurs face a lot of hardship in the business plan implementation. Thus, with the help of various counselling sessions, the training organisations try to extend their support to trainees. Members like State Financial Corporation, commercial banks, training institutions and District Industries Centre constituted all together to assist the entrepreneurs on the basis of mentioned goals :
  • To assist trainees in a meaningful manner so that trainees can realize their business plan.
  • To analyse the development made by trainees in the project implementation.
  • To evaluate the post-training approach.
  • To provide escort services to the trainees with the help of various promotional and financial institutions.

Commonly, these follow-up action meetings are conducted after every three years of training completion and the tools used for the follow-up are :
  • Postal questionnaires.
  • Telephonic follow-up.
  • Individual contact by the trainer.
  • Team meetings.

A number of government and private institutions are providing assistance in India to entrepreneurs. Some of them are listed below :
  • Small Industries Development Organisation (SIDO),
  • Commercial Banks,
  • National Alliance of Young Entrepreneurs (NAYE),
  • National Institute for Entrepreneurship and small Business Development (NIESBUD),
  • Entrepreneurship Development Institute of India (EDI),
  • India Investment Centre (LIC),
  • Small-scale industrial Development Bank Of India (SIDBI), and
  • Technical Consultancy Organisation (TCO).

Importance of Entrepreneurial Development Programme (EDP) :


The importance of EDP is as follows :

1) Formation of Employment Opportunities :
Entrepreneurial development programmes generate employment opportunities in the developing and under-developed countries. It assists and encourages individuals to establish their own business and enable them to become self-employed. By setting-up. several business enterprises, EDP also creates abundant job opportunities for other people.

2) Provides Adequate Capital : 
A large amount of capital is required to set-up a business enterprise. This financial assistance is provided by various EDP agencies. EDPs instruct the development banks such as ICICI, IDBI, IFCI, SIDCs, etc., to take initiative in promoting entrepreneurship.

3) Proper Utilization of Local Resources : 
New entrepreneurs utilize the available local resources in the most effective way. This utilization of resources plays an important role in the development of a particular area or region at minimum cost. EDPs .guide, educate and teach the entrepreneurs to exploit the local resources efficiently.

4) Increased Per Capital Income : 
Entrepreneurs have the ability to organise the factors of production and utilize them in the most productive manner by establishing an enterprise. This development leads to increased production, employment and wealth generation. As a result, overall productivity and per capital income of the economy is raised.

5) Improved Standard of Living : 
EDPs provide latest technologies and innovative methods to entrepreneurs which helps them to produce large quantity of products at lower cost. This also enables entrepreneurs to exploit the available resources and produce quality products. This automatically leads to improved standard of living.

6) Economic Independence : 
EDPs strengthen the entrepreneurs to produce variety of products in large quantities at competitive prices. It also helps an entrepreneur to develop substitutes of imported products which prevents the country from being dependent on other foreign countries. It also saves foreign exchange of the country.

7) Preventing Industrial Slums : 
Most of the developed industrial areas are facing problems related to industrial slums. This leads to over burdening of public amenities and also affects the health of people adversely. EDPs offers several subsidies, incentives, infrastructural support and financial grants to new entrepreneurs for establishing their businesses, thus, preventing the growth of industrial slums.

8) Reducing Social Tension :  
A majority of youngsters and educated individuals of the society are in the state of social unrest and tension. This social tension restricts them from finding the right direction in their careers. Most of the students feel frustrated about not getting a job after the completion of education. In such situations, EDPs helps people by providing them proper guidance, assistance, training and support for establishing new enterprises and businesses, As a consequence, social tension is reduced as they generate self-employment opportunities.

9) Facilitating Overall. Development : 
EDPs facilitate entrepreneurship which helps in the overall development of the society by producing new products, innovative services, low cost consumer goods, job opportunities, increasing the standard of living, and overall productivity. This facilitates in the overall development of the economy and the country.


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